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IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore - The Economic Times
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Editor'sPick Apaxhasstruckthesecondbigdeal connectedtoIndia's$108billion TCS,Infy,Cognizantwantabiggerbyteout outsourcingindustry.Twoyearsago,it ofEurope Mumbai'snewlocaltrainswith SpriteisNo1,topplesThums Newluxuryomnibusesgive QuestionatMicroso backediGate BSE0.00% Corptobuyout GoogleunveilsnewHPlaptopfor$279| energyefficientcoaches Upafterthreedecades airlinesarunfortheirmoney WhatwillBillGates PatniComputerfor$1.2billion. Pics Thecountry'sfirststainlesssteelelectric RameshChauhan,themanwhocreated notcontenttostopatastraightdrive, Thenarrativeoftherescuin GlobalLogic,foundedbyRajulGarg, multipleunit(EMU),meantforMumbai's ThumsUpin1977andsoldhisbizto superiorsuspension,ACanddrapes, powerfulone,sinceSteveJ TravelcompaniesrefundingKFA SanjaySingh,ManojAgarwalaandTarun suburbannetwork,wasflaggedoffat CocaColain1993,saysit'salldowntothe busestodayofferahostofluxuryfeatures toAppleandtransformedit customers IntegralCoachFactory.Clickthrough... palateandclevercampaigns. Upadhyay,competeswithSymphony thatactuallyrivalaircrafttravel. world'smostprofitablecos. USbanonsomeSamsungproductstogo MumbailagsbehindotherIndiancitiesin MotherDairyentersNorthEast Howtobuyanalmostnewluxuryride Microsoftlaunches'Krrish BSE1.47% TechnologyandPersistent intoeffect infrastructure launchesicecreamsinGuwahati reallycheap Windowssmartphones,P Systemsintheoutsourcedproduct IBMtodevelopsmartcitiesintheDelhi ParleAgroreturnstofizzaftertwenty BentleylaunchesnewFlyingSpurpriced BillGates,SteveBallmer Twittervaluationmayexceed$20bnafter developmentorresearchanddevelopment Mumbaiindustrialcorridor yearswithacoffeerush atRs3.1croreIPO electiontoMicrosoftboar space
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GlobalLogic,whichhasatypicalhybrid businessmodelpursuedbyIndiantech entrepreneurs,isbasedinCalifornia,with largedevelopmentcentresinIndia,Ukraine andArgentina.Itisoneoftheleadersin outsourcedproductdevelopmentservices. "Thisisanemergingsectorwhichwewere keentoinvestin,"ShashankSingh,MD, ApaxPartners,toldTOI.Hedeclinedto commentonfinancialdetails.
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economictimes.indiatimes.com/tech/ites/it-outsourcing-firm-globallogic-founded-by-four-iitians-sold-for-rs-2578-crore/articleshow/23753100.cms
10/9/13
IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore - The Economic Times
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ThefirmhadappointedJPMorgantofindabuyeraftershelvingIPOplans.GlobalLogic, Home News Markets IPO PersonalFinance MutualFunds Tech Jobs Opinion Features Blogs Slideshows ETNOW ETSpeed with6,500employees,willoperateasanindependententityandnotmergedwithiGate. ThecurrentCEOShashankSamantwillcontinuerunningthebusiness. IndiaborntechentrepreneurshavefiguredinsomeofthemosttalkedaboutM&Adealsin recentpast,churningoutbigprofitsfortheirfinancialinvestors.ThisincludeCisco'sbillion dollarbuyoutofMerakiandGoogle'sbuyoutofgesturerecognitionstartupFlutterlast week.StaplesboughtecommercepersonalizationcompanyRuna,cofoundedbyrepeat entrepreneurAshokNarasimhan,afewdaysago.
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Earlierthisyear,onlinebusticketingserviceRedbus,foundedbyPhanindraSamaand CharanPadmaraju,wassoldtotheIbiboGroup,asubsidiaryofSouthAfrica'sNaspers. InvestorsinthecompanySeedFund,KanwalRekhi'sInventus,andHelionVentures exitedforanenterprisevalueofRs600700crore.
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economictimes.indiatimes.com/tech/ites/it-outsourcing-firm-globallogic-founded-by-four-iitians-sold-for-rs-2578-crore/articleshow/23753100.cms
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10/9/13
IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore - The Economic Times
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economictimes.indiatimes.com/tech/ites/it-outsourcing-firm-globallogic-founded-by-four-iitians-sold-for-rs-2578-crore/articleshow/23753100.cms
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10/9/13
IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore - The Economic Times
NarayananNachiappan (Chennai) 15Followers 7Hoursago Silver:2455 Agree(0) Disagree(0) Recommend(0) Offensive
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Gooddealfortheinvestorsofgloballogic
Itispertinenttoknowhowmuchdid4IITiansgotfromthedeal..
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economictimes.indiatimes.com/tech/ites/it-outsourcing-firm-globallogic-founded-by-four-iitians-sold-for-rs-2578-crore/articleshow/23753100.cms
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